Pico projector or handheld projector enables image projectors in the mobile devices. Revolutionary advancements in the mobile devices like personal digital assistants, mobile phones and digital cameras which have strong memory capacities. Growing demand for the presentation and attachment of display screens are expected to create more demand for this type of projectors around the world. According to the researchers, the global pico projector market is expected to witness steady growth over the next few years. This growth is mainly driven by the smartphone revolution and rising demand from different parts of the world. Advancing technologies are also expected to influence the growth patterns in this market. Existing as well as emerging players in the market are expected to come across vital development and investment opportunities around the world.
The global pico projector market is segmented on the basis of the types of products, applications, technologies and demand patterns across different geographic regions. The basic types of products in the market are categorized into embedded, USB, Stand-alone and media player projectors. Major technologies in the market are categorized into Liquid Crystal on Silicon (LCOS), Digital Light Processing (DLP) and Laser Beam Steering (LBS). Basic applications segments in the market include automotive, aerospace and defense, healthcare, retail, consumer goods, industrial and business and education. Major geographic regions in the market are divided into Asia Pacific, Europe, Americas, and rest of the world.
Major Drivers and Restraints
According to the researchers, the global pico projector market is expected to be driven by the rising demand from around the world. This demand is expected to be driven by integration of these projectors within the smartphones and other smart devices. Development of high definition projectors is also expected to influence the growth in this market during the next few years. Innovative head-up displays and other technological advancements are also expected to drive this market. Major restraining factors for the market include low brightness and several safety issues. Requirement for manual adjustment is also expected to hinder the growth of this market.
As per the latest research reports, the pico projector market is expected to grow at an estimated CAGR of 39% from 2014 to 2020. At the expected exponential growth rate, the market is poised to become worth $9.32 billion by the end of the year 2020. North America region is expected to hold the largest market share in the global market. Asia Pacific region on the other hand is anticipated to grow at the highest CAGR. Rapid rise in demand from consumer electronics segment is expected to provide vital traction to this market over the next few years.
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